Trust & Will reports that over 55% of adults living in America do not have a will or estate plan in place. Moreover, many of these residents simply don’t know what is the difference between will and estate planning, or how those choices will impact their family in the future. Knowing this, in this guide, we share some of the main differences, the real costs involved, and when you need to contact a Michigan will estate planning attorney for support.
Quick Definitions — Will versus Estate Planning
What a Will Does
A will is a legal document that outlines who will inherit your assets upon your death. In addition, it allows you to appoint guardians for minor children. However, a will must also go through probate, which can be a lengthy as well as public procedure.
What Estate Planning Includes
Estate planning encompasses a wider range of considerations. It can involve your will, trusts, power of attorney, and health care directives. In combination, they provide protection while you’re alive and guide your wishes after you die. Understanding: what is the difference between will and estate planning starts here a will handles one part of your estate, while a full plan handles everything.
Main Differences — Probate, Privacy, Control
Probate and Court Time
In Michigan, a will goes through probate court regardless of the situation, which can last months and incur additional fees. However, a trust as part of a comprehensive estate plan can often avoid the probate process altogether and keep your assets out of the public process.
Privacy and Control
A will turns a private document into a public record at the time of your death, meaning anyone can see it. Estate planning, on the other hand, offers privacy. Trusts are private documents, and powers of attorney allow you to appoint someone to manage your affairs should you become incapacitated, which is an additional security a will cannot offer. That’s a huge distinction between will vs estate planning vs trust that every Michigan resident should understand.
Cost Comparison — Will Vs Estate Planning Vs Trust
Often, when people ask what is the difference between will and estate planning, cost is usually part of the conversation. In Michigan, planning for a basic will might be inexpensive, but planning for complete estate planning will be slightly higher, yet offer more protection.
| Type | Typical Cost (Michigan) | Best For | Probate |
| Basic Will | $500 to $1,500 | Simple estates, single assets | Required |
| Trust Package | $2,000 to $5,000+ | Avoiding probate, complex assets | Avoided |
| Full Estate Plan (Will + Trust + POAs) | $1,500 to $5,000+ | Tailored protection | Depends on structure |
Your will and estate planning cost depends on complexity, number of assets, and attorney expertise. A will or trust estate planning package may feel expensive up front, but that cost is often far outweighed by the expense of probate or litigation down the road. Comparing the will trust and estate planning options will help you determine the right balance between budget and long-term peace of mind.
When a Will Is Enough
Sometimes, a simple will & estate planning setup works just fine. You may only need a will if:
- You own minimal property.
- You have straightforward beneficiaries.
- You don’t own real estate or a business.
However, remember that wills don’t handle incapacity or avoid probate. For larger estates, knowing the will vs estate planning vs trust differences can save your loved ones both time and stress.
When You Need Full Estate Planning (Trusts, POAs, Special Steps)
If you have multiple homes, blended families, or special-needs dependents, then you also need to think about will trust and estate planning solutions. The ideas of full estate planning are ultimate flexibility, trusts for privacy, powers of attorney for incapacity, and medical directives to confirm preferences.
When deciding between a will or trust estate planning approach, think long-term. Estate planning creates a roadmap for your future, not just instructions for your assets.
Finding the Right Help in Michigan
When you work with experienced will and estate planning lawyers, you can save time, money, as well as unnecessary stress.
When hiring, look for:
- Credentials and specialization in Michigan estate law
- Transparency about fees and what’s included
- Local experience with Michigan probate courts
If you’re asking what is the difference between will and estate planning, a qualified Michigan attorney can explain which option fits your family’s situation best.
DIY Options: Pros, Cons, and Risks
DIY tools can lower your will and estate planning cost, but they come with important considerations:
| Pros | Cons |
| Affordable, ideal for very simple estates.Quick and convenient, online access anytime.Allows you to handle basic wishes without delay. | May not meet Michigan’s legal signing or witness rules.Limited customization, not suited for complex family or asset structures.No professional review, errors could invalidate documents. |
Tip:
Even if you start with a DIY template, have a Michigan estate planning attorney review it to ensure compliance and protect your intentions.
FAQ
Do I always need a trust?
Not always. Simple estates may not require one, but trusts can help avoid probate and maintain privacy for families in Michigan.
Will a will avoid probate?
No. All wills must go through probate in Michigan unless they’re paired with a trust or other estate planning tools.
How much do lawyers charge?
Although it can differ, typically hourly rates range from $200 to $500, while flat fees for will & estate planning packages vary based on complexity and services included.
What’s the difference between a will and a trust?
A will outlines how your property is distributed after death. A trust, part of broader estate planning, helps manage assets during your life and can bypass probate.
Can I update my estate plan later?
Absolutely, it’s recommended. You should review your will or trust estate planning documents every few years or after major life changes to ensure they reflect your current wishes and Michigan laws.
Protecting Your Legacy in Michigan
Ultimately, understanding what is the difference between will and estate planning helps you make smarter, more confident decisions. Each has its own function, but a thorough estate plan will give you ongoing peace of mind. Are you ready to protect your future? Call Dakroub Law today to schedule your customized estate planning consultation in Michigan.